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Warrantee Inc. (WRNT) is a Japanese marketing and market research technology company founded in 2013. The company specializes in providing innovative marketing campaign services that deliver extended warranty coverage on durables and certain healthcare benefits to participants. By leveraging its unique technology, Warrantee offers a win-win solution for corporate sponsors and their potential customers. The company's trinity model connects three stakeholders: corporate sponsors, campaign participants (referred to as users), and Warrantee itself, ensuring benefits for all parties involved.
In fiscal year 2023, Warrantee reported a robust financial performance with an 8% increase in revenue to JPY243.2 million ($1.8 million), driven primarily by its market campaign services in the durables vertical, which accounted for 88% of the total revenue. The company achieved a 9% increase in gross profit to JPY241.1 million ($1.8 million) and successfully reduced its cost of revenue by 17% to JPY2.1 million ($0.02 million), reflecting improved cost efficiency.
Warrantee's financial highlights for fiscal year 2023 also include a 40% reduction in selling, general, and administrative expenses to JPY188.5 million ($1.4 million), resulting in an income from operations of JPY52.6 million ($0.4 million). The company reported a net income of JPY41.3 million ($0.3 million), compared to a net loss in the previous fiscal year.
The company completed its initial public offering (IPO) on July 27, 2023, with 2,400,000 American Depositary Shares (ADS) listed on the Nasdaq Capital Market under the ticker symbol WRNT. This strategic move positions Warrantee for future growth and expansion into additional industry verticals.
Warrantee is committed to its mission of providing safety and security to people worldwide through its innovative services like the free insurance model and free healthcare. The company continues to develop partnerships and improve its services, aiming for greater profitability and long-term value for shareholders.
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